Commerce Past Questions And Answers
One type of investment that has a variable income is
- A) Debentures
- B) Preferred shares
- C) Government bonds
- D) Ordinary shares
Compulsory dissolution of a business can arise from
- A. an agreement by the owners
- B. a declaration by a court of law
- C. the termination of its life
- D. an unfavourable economic climtate
The difference between the total payments for imports and the receipts from exports within a given period is referred to as
- A. balance of payments
- B. balance of trade
- C. comparative cost advantage
- D. comparative advantage
Use the above information below to answer question 7 and 8. Mr obi is a manager of obi Agricultural Venture. he makes all the decisions and takes all profits from the business. H e had agreed with Alhaji Musa. It can be deduce from the above that obi Agricultrual Venture is a (a farmer) to pool their resources together and expand their business.They invited Mr Abayomi (a cotton grower) to join them. Mr Abayami agreed on the condition that his liability in the new firm will be limited to his
- A. A sole proprietorship
- B. general partnership
- C. limited partnership
- D. Joint partnership
A company which issues a promissory note in lieu of payment for goods purchased
- A. Is not bound to renew the note before payment
- B. Can return the goods purchased and refuse to pay
- C. Can refuse to pay on due date since it is only a promise
- D. Is bound to redeem the note for cash on due date
Which of the following is not a reason for dishonoring a cheque?
- A. insufficient funds in drawer's account
- B. when the cheque is stale
- C. Amount in figure differs with amount in words
- D. Poor handwriting
An activity that involves derivation of raw materials from land and sea is?
- A. construction
- B. farming
- C. agriculture
- D. extraction
The major determinant of fire insurance premium is the
- A. Owner of the property
- B. usefulness of the property to the owner
- C. Type and structure of the property to be insured
- D. extent of fire damaged anticipated
A distinguishing characteristic of a limited liability company is that it
- A) is a collection of many sole proprietors
- B) is a multiple partnership
- C) can sue and be sued
- D) has limited resources
The act of keeping products in good condition until they are needed is?
- A. Insurance
- B. warehousing
- C. communication
- D. advertising